{"id":965179,"date":"2018-08-29T12:10:07","date_gmt":"2018-08-29T12:10:07","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=965179"},"modified":"2018-08-29T12:10:07","modified_gmt":"2018-08-29T12:10:07","slug":"teck-seeking-partner-for-4-8bn-quebrada-blanca-mine-expansion-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=965179","title":{"rendered":"Teck seeking partner for $4.8bn Quebrada Blanca mine expansion"},"content":{"rendered":"

By Cecilia Jamasmie<\/a><\/span> <\/p>\n

Canada’s largest diversified miner Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK) is looking for a business partner before moving ahead with its Phase 2 at Quebrada Blanca copper mine in northern Chile.<\/p>\n

The Vancouver-based company, which earlier this month received regulatory approval<\/a> for a $4.8-billion mine extension, said that before kicking off work, it would have to secure a development partner able to invest $2billion for up to 30% to 40% stake in the project.<\/p>\n

Earlier this year, Teck had said it was exploring various potential financing alternatives<\/a> for the project.<\/p>\n

The copper mine is nearing the end of its life, but the expansion will keep it producing for at least another 25 years.<\/q><\/p>\n

Chile’s Mining Minister Baldo Prokurica had said that Teck would begin the mine extension, aimed at extending Quebrada Blanca’s life by 25 years, in November, local paper El Mercurio<\/em> reports<\/a>.<\/p>\n

The upgrade, which will boost mine production to 300,000 tons of copper a year, includes building a new 140,000-tonne-per-day concentrator and the first large-scale use of desalinated seawater for mining in Chile’s arid Tarapac\u00e1 region.<\/p>\n

Last year, Quebrada Blanca produced 23,400 tonnes of copper, generating a $182 million-revenue.<\/p>\n

Teck owns 90% of the mine<\/a> and Chile’s national mining company ENAMI holds a 10% preference share interest in it, which does not require the state agency to fund capital spending.<\/p>\n

Copper, one of four business units at Teck besides steelmaking coal, oil and zinc, is considered a company’s priority.<\/p>\n

Smelting back on track<\/strong><\/h4>\n

On separate development, Teck announced Tuesday<\/a> the resumption of lead smelting operations at its Trail, British Columbia, facility after a seven-day suspension because of wildfires in the province.<\/p>\n

Last wee, Teck shut down the smelter<\/a>, which provides oxygen to Teck Trail Operations, due to poor air quality in the area.<\/p>\n

The post Teck seeking partner for $4.8bn Quebrada Blanca mine expansion<\/a> appeared first on MINING.com<\/a>.<\/p>\n

…read more<\/a> <\/p>\n

From:: Infomine<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Cecilia Jamasmie Canada’s largest diversified miner Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK) is looking for a business partner before moving ahead with its Phase 2 at Quebrada Blanca copper mine in northern Chile. The Vancouver-based company, which earlier this month received regulatory approval for a $4.8-billion mine extension, said that before kicking off work, it […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[360],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/965179"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=965179"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/965179\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=965179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=965179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=965179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}